The Flood Insurance Affordability Tax Credit Act aims to help individuals afford flood insurance by providing a financial credit to offset the cost of premiums. This legislation recognizes the financial burden that flood insurance can impose, especially on low to moderate-income households, and seeks to make it more accessible. One of the key provisions of this act is the introduction of a refundable tax credit that allows taxpayers to claim 33 percent of their flood insurance premiums as a credit against their taxes. However, this credit is subject to income limitations.